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Dennis9621
Apr 26, 2009, 04:50 PM
If I have a personal debt that received a writ of garnishment against my bank accounts, do they have the right to place a writ of garnishment on the company that I own also?
This is a corporation in the State of Florida.

ScottGem
Apr 26, 2009, 04:53 PM
That's why you create a corporation, to keep personal assets separate from business assets. So anything in the name of the corporation is safe.

Fr_Chuck
Apr 26, 2009, 05:48 PM
As long as you set the corporation up correctly, and have not accessed company funds improperly so to mix personal and company funds

AK lawyer
Apr 27, 2009, 04:50 PM
... anything in the name of the corporation is safe.


As long as you set the corporation up correctly, and have not accessed company funds improperly so to mix personal and company funds

Incorrect. Your personal assets cannot be taken to satisfy the debts of the corporation. But corporate limited liablitiy doesn't work the other way. Your ownership interest in the corporation (shares) can be seized to satisfy your personal debts.